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Old 06-14-2009, 06:06 AM
 
Location: Raleigh, NC
9,043 posts, read 11,571,264 times
Reputation: 1392

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"Interesting" that a YT veteran has his account suspended just after posting this. That's ok, it'll just keep getting uploaded.

By the way, the dimes and quarters are pre-1965 and thus 90% silver. I predict we'll see a lot more of this in the next 5 years. You heard it here first!


YouTube - Grocery Stores Begin To Accept Silver!!! - George4title Account Suspended
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Old 06-14-2009, 09:18 AM
 
Location: Westwood, MA
3,610 posts, read 4,647,457 times
Reputation: 4649
This guy is basically proving his opponent's point: "you can't eat gold or silver". You can certainly exchange it for food, a point with which no one will disagree, but if you only consume gold and silver you will starve to death. People seem to think because gold and silver are scarce that they have some inherent value far beyond what their real values are. Something has inherent value based only on the utility can obtain directly from that item. Food has value in that it can be eaten. A house has value because of your desire for shelter. Gold has value in that you can admire the beauty of gold jewelry or coins or in that it can be used for semiconductor devices that themselves have utility (such as this computer).

The bulk of gold's value is based on its scarcity and the communal acceptance of gold and silver as a store of value. This is the same basis of the value of paper currency. The only difference is the relative ease of creating more of the scarce resource--paper currency can simply be created by a government but new gold can only be introduced through mining. If you really don't trust the government, I guess I can understand why gold and silver are so attractive, because they are somewhat removed from government control, but to mistake this for inherent value is an economic fallacy.
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Old 06-14-2009, 12:58 PM
 
69,372 posts, read 55,346,365 times
Reputation: 9358
Quote:
Originally Posted by ViewFromThePeak View Post
"Interesting" that a YT veteran has his account suspended just after posting this. That's ok, it'll just keep getting uploaded.

By the way, the dimes and quarters are pre-1965 and thus 90% silver. I predict we'll see a lot more of this in the next 5 years. You heard it here first!


YouTube - Grocery Stores Begin To Accept Silver!!! - George4title Account Suspended
If I'm correct, there are two windows, one to cash in your silver/gold, another checkout to take the money you just received, to buy food. 2 different transactions..

That being said, I dont think I've ever heard of stores not accepting dimes and quarters pre 1965..
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Old 06-14-2009, 01:14 PM
 
8,648 posts, read 15,258,873 times
Reputation: 4567
Quote:
Originally Posted by pghquest View Post
If I'm correct, there are two windows, one to cash in your silver/gold, another checkout to take the money you just received, to buy food. 2 different transactions..

That being said, I dont think I've ever heard of stores not accepting dimes and quarters pre 1965..
"That being said, I dont think I've ever heard of stores not accepting dimes and quarters pre 1965.."

But they only accept them at face value, he was getting silver value.

I have 100 troy oz's of silver, I think I will go to wally world and buy me a new 60 inch TV...LOL
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